Will clean energy incentives, EV tax credits survive debt ceiling showdown?

As the nation prepares for a showdown between President Biden and House Republican leadership over the impending default date of the federal debt ceiling, a House Republicans’ proposal to avoid the country’s first default could raise the federal debt limit but would undermine President Biden’s climate law— the Inflation Reduction Act.

Joshua Basseches, a climate change policy and politics expert at Tulane’s School of Liberal Arts, believes a big part of the Republican’s proposed solution is to speed up the permitting process for fossil fuel projects and control the energy supply.

“When you step back and look at the big picture, this is an effort to undermine the goals of the Inflation Reduction Act. This is a way to keep the fossil fuel industry afloat. But even if the Republicans were to get this through, which I don't think they will in its current form, it would not undo all the positives from the Inflation Reduction Act.”

“The bill also contains the full text of the energy package the GOP passed in March, which would expand domestic energy production by allowing more oil, gas and mineral exploration on public lands and make dramatic changes to the National Environmental Policy Act by speeding up permitting for energy projects.”

Basseches can speak on the following:

-The potential effects of the GOPs debt-limit plan on the clean energy transition

-Permitting reform, its opportunities and pitfalls

-The Inflation Reduction Act’s impact on electric vehicles, clean electricity and ongoing state-level climate policy efforts